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Alex Esquire
Alex Esquire, Attorney at Law
Category: Real Estate Law
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Experience:  Experienced Licensed Attorney / Real Estate Law Mentor
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A privately held corporation owes my father the balance of

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A privately held corporation owes my father the balance of payment for the purchase of his stock. It will pass the statute of limitations which is 10 years in 2018. As co trustee this has become my responsibility. The other co trustee will not cooperate as her husband is the primary stock holder of the corporation. Assuming she can be removed, what specific action will keep the debt from expiring? Do I have to file a specific claim, receive a judgement or simply send a request for the debt to be paid? Thank you
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  Alex Esquire replied 3 months ago.

Hello. My name is Alex.
Thank you for your question.
I will be happy to provide you with information you are seeking for educational purposes only.

Generally, only filing of a lawsuit would toll the statute of limitations or some type of repayment / partial payment for the debt, but making a demand or request for payment of the debt would not stop or toll the statute of limitations.

I wish you the best of luck!

Expert:  Alex Esquire replied 3 months ago.

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Thank you.

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